Cornerstone Wealth Management LLC Buys 472 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cornerstone Wealth Management LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.2% in the first quarter, Holdings Channel reports. The fund owned 15,032 shares of the electric vehicle producer’s stock after acquiring an additional 472 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Tesla were worth $2,642,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wyrmwood Management LLC bought a new position in Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. bought a new position in Tesla in the 4th quarter worth approximately $25,000. Mendota Financial Group LLC boosted its holdings in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in Tesla in the 4th quarter worth approximately $37,000. Finally, Kathleen S. Wright Associates Inc. lifted its stake in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 6.5 %

Shares of TSLA opened at $246.39 on Friday. The firm’s 50-day moving average price is $182.57 and its 200-day moving average price is $191.32. The firm has a market capitalization of $785.79 billion, a price-to-earnings ratio of 62.85, a PEG ratio of 6.11 and a beta of 2.31. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Sell-side analysts anticipate that Tesla, Inc. will post 1.86 EPS for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Roth Mkm reiterated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Wednesday, April 24th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Wedbush increased their target price on shares of Tesla from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday. Finally, Guggenheim increased their target price on shares of Tesla from $126.00 to $134.00 and gave the stock a “sell” rating in a research note on Wednesday. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $189.47.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.